I'm in a financial mood.

[speedfreak28 10+ year member]

Not a bad idea. But have you ever been in the foreclosed homes on the market? //content.invisioncic.com/y282845/emoticons/eek.gif.771b7a90cf45cabdc554ff1121c21c4a.gif They're usually run to the ground and left for the roaches, unfortunately.

yes lol, my brother is realtor and has recently been selling me on the idea of investing in a forclosure home. Since I dont plan on living in it I cant personally justify the investment. If you did plan on living there and could do most of the renovation, you could stand to make a killing in the long term.

 

[Scoobydoo 5,000+ posts]

46" Sharp 120hz 1080p lcd

 

[Loud3 10+ year member]

I think the housing market in CA and NV, especially, will continue to fall. There are a lot of attempts at short sales in Vegas, but I don't know if they're having much success moving them. Look on RedFin at places that you might be interested in; take a look at the month-over-month median housing prices and that will give you a bit of an idea as to whether you want to buy one now or not.
Either way, $1200 is nowhere near enough to consider actually buying a house. Go with a short-term investment with guaranteed principal and interest, and keep re-investing while adding whatever you can afford from your monthly budget. Once the market becomes a bit more predictable, you can look at higher risk investments that might match your profile a bit better at that point. After a few years, you'll have the money you need for a nice down payment on a home...it is very important to have a good down payment because that equity is important in unstable markets.

So in short, my answer is stay in a financial mood all the time. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

And make sure you're also doing some scheduled or regular contributions, in addition to whatever you do with this money.

Some of you guys are apparently mis-reading the original question.

This isn't about buying a home. This isn't something I am involved in.

This is purely hypothetical.

(fyi, I am in the market for a house, and do have a considerable chunk of change ready to put down on the right house, but I havent seen the 'right' house yet.)

 

[newusername 10+ year member]

Yes, it's the same problem in CA. The good houses the bank won't budge on the price, and the shitty houses are hard for them to sell because the houses are usually just filth or completely stripped down. My dad was looking at a place in Palm Springs where they took out every ounce of copper plumbing in the house.

Since you have a decent amount in your savings (18% of the home's value is pretty good!), you might want to consider moving in the next year or so, though, so you don't keep wasting rent payments.

 

[wu501 10+ year member]

cd rates seem to be a tad bit higher than most saving account right now but you are better off saving it either way.

 

[newusername 10+ year member]

Some of you guys are apparently mis-reading the original question.

I know what your question was, but I thought I was pretty clear that you should take the money you have now and invest it with the goal of re-investing until you have enough for a down payment on a home. That is what I would do, as I think that is your smartest option.

 

[speedfreak28 10+ year member]

buy 1200 dollars worth of silver, the smaller electronic devices get, the more it is used as a conducter.//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[loopkiller 10+ year member]

Here is a scenario.
You have a good, stable job that provides for all of your bills, and lets you have a good chunk of change left over for anything else you might need to buy (gas/food/going out money/)

You also have $1200 that you can put anywhere you like, EXCEPT audio/car equipment.

What do you do?

Do you save it? If so, where?

Do you spend it? If so, where?

No where in there did I ask how I should spend my money.
I asked what YOU would do.

Not once did I post 'I.'

Please re-read.

R-tard.

//content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

That is the lamest thing I have ever read. I never told you I had an extra $1200. Obviously you do. That is why you are asking this stupid fucking question to begin with. You act like having $1200 is high finance and you need a team of financial advisors to help you manage your cash flow.

Wash the sand out of your vag //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

 

[Loud3 10+ year member]

Yes, it's the same problem in CA. The good houses the bank won't budge on the price, and the shitty houses are hard for them to sell because the houses are usually just filth or completely stripped down. My dad was looking at a place in Palm Springs where they took out every ounce of copper plumbing in the house.
Since you have a decent amount in your savings (18% of the home's value is pretty good!), you might want to consider moving in the next year or so, though, so you don't keep wasting rent payments.

I'm actively looking with a realtor, but just havent seen anything worth diving into.

I've seen some NICE houses, but in areas that are just too far away to commute to and from work for both myself and the wife on a daily aspect.

As much as I'd LOVE to live right under the mountains out on the west side, I work in (NE) and she works at a salon in the (S) and we are talking an hour commute for her, and maybe more for me during traffic.

And it just so happens that the only place that is remotely holding value right now, is the western side of Vegas, and Henderson. Henderson is nice, but that would make my commute a disaster.

We even looked at a 2350ft^2, 3br/2b, 3 car garage with a pool with an asking of $225... but it needed SO much work to bring it up to speed.

 

[Loud3 10+ year member]

That is the lamest thing I have ever read. I never told you I had an extra $1200. Obviously you do. That is why you are asking this stupid fucking question to begin with. You act like having $1200 is high finance and you need a team of financial advisors to help you manage your cash flow.
Wash the sand out of your vag //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

Actually, no.

You're an idiot, plain and simple.

I ask these types of questions to get a general idea of who actually has a clue, and who is going to be working until the day they die. Purely hypothetical.

It's just one more non-car audio related thread on this AWESOME forum.

You're the only one that seems to be bothered by this thread, so I guess maybe you should find an exit.

Or a way to actually make some money, so that you have some valid input next time.

//content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

 

[pioneerpimp 5,000+ posts]

if you dont mind me asking, how old is your "wife"?

and i believe reading you are 27, or so correct? i just want to know so i can see the general demographic of people buying houses and saving.

im just getting a general consensus here, and am thinking about the same questions, but me and my gf are only 21 almost 22, but are looking into some investment opportunities as well.

 

[pioneerpimp 5,000+ posts]

oh yea, and also, what careers do you and your wife hold?

thanks for the info, not being snoopy, just wondering cus i like these kind of threads.

 

[FoxPro5 5,000+ posts]

Keep in mind you don't need 20% down as a rule, you just don't have to pay PMI.

Also watch the new Econ Stimulus bill as it includes $15k for new-home purchases. The current $7500 must be repaid, but Osama Yomomma et al wants to just give it to you (pending qualification, I'm sure).

 

[Louisiana_CRX 5,000+ posts]

anytime i get a few extra dollas i spend it on car audio or car related items....

 

[Flipx99 5,000+ posts]

Keep in mind you don't need 20% down as a rule, you just don't have to pay PMI.
Also watch the new Econ Stimulus bill as it includes $15k for new-home purchases. The current $7500 must be repaid, but Osama Yomomma et al wants to just give it to you (pending qualification, I'm sure).

If he ain't married, he only gets half. What a crock of shit.